ITI Ltd to obtain an order booking of about Rs10,000 crore by March 31st

According to a parliamentary panel’s report, State-run electronics firm ITI Ltd will have order booking worth of Rs10,000 crore by end of this month.

“The total order booking of ITI will be about Rs 10,000 crore by March 31, 2018. ITI will achieve this target in the year 2018-19,” the report of standing committee on information technology said.

The state-run firm has recently bagged an Rs 840 crore order for smart meters, while Rs 8, 000 crore worth orders are expected from ASCON project phase IV.

ITI being L1 in many tenders would also get orders of about Rs700-800 crore before March 2018, the report said. The department of telecommunication (DoT) shared with the committee that during 2016-17, Palakkad unit of ITI earned maximum profit and Rae Bareli unit was under maximum loss.

At the end of third quarter of 2017-18, all the units except Naini (Allahabad) were earning profits. However, it is expected that Naini unit also will become profitable during 2018-19. The business vertical of Naini unit is solar panel manufacturing and a 30MW solar plant has been established for taking up panel manufacturing.

“ITI has received contract of establishment of 14 MW solar plant and we are actively participating Bhartanet project where in the solar panel requirement will be met by Naini unit,” DoT informed the panel.

Tags: ITI Ltd, electronics firm ITI Ltd, ASCON project phase IV, dot, department of telecommunication, Bhartanet project, solar panel requirement, solar panel requirement, varindia